factual

In the Chatime General Release, what collective term is used to refer to the parties providing the release?

Chatime Franchise · 2025 FDD

Answer from 2025 FDD Document

nature: __________________________

Print Name:_________________________

Signature: Date:
Print Name:
Signature: Date:

Date: _________________________________

EXHIBIT 1 to the Franchise Agreement Form of Release

GENERAL RELEASE

THIS GENERAL RELEASE is made this day of , 20_
WITNESSETH:
I,
,
a
resident(s)
in
the
State
of
,
and
,
a
[State of Incorporation] company
having
its
principal place of business at
(each of the foregoing being collectively referred to herein as the "UNDERSIGNED") for and in
consideration
of
the
sum
of
One
Dollar
($1.00)
paid
to
them
by
Chatime
Franchise,
LLC
and
other
good
and
valuable
consideration,
the
receipt
of
which
is
hereby
acknowledged,
the
UNDERSIGNED, individually and for itself, its parent, subsidiaries, affiliates, agents, servants,
employees, shareholders, officers, directors, partners, heirs, successors and assigns, do each
hereby
forever
release,
remise,
and
discharge
Chatime
Franchise,
LLC,
their
predecessors,
successors
and
assigns,
parents,
subsidiaries,
and
affiliated
entities
and
their
respective
managers,
members,
officers,
directors,
agents,
employees,
and
representatives,
past
and
present, of any
and all of such entities (all collectively referred to herein as "FRANCHISOR"), of
and
from
any
and
all
claims,
demands,
causes
of
action,
suits,
debts,
dues,
duties,
sums
of
money,
accounts,
reckonings,
covenants,
contracts,
agreements,
promises,
damages,
judgments, extents, executions, liabilities and obligations, both contingent and fixed, known and
unknown, of every kind and nature whatsoever in law or equity, or otherwise, under local, state,
or
federal
law,
against
any
of
them,
which
the
UNDERSIGNED
or
any
one
of
them
or
their
predecessors
in
interest,
if
any,
ever
had,
now
have,
or
which
they,
their
heirs,
executors,
administrators,
successors,
or
assigns
hereafter
can,
will,
or
m

Source: Item 23 — Receipts (FDD pages 58–262)

What This Means (2025 FDD)

According to Chatime's 2025 Franchise Disclosure Document, the collective term used to refer to the parties providing the general release is "UNDERSIGNED".

The document specifies that the "UNDERSIGNED" includes individuals or entities such as residents of a state or incorporated companies, along with their parents, subsidiaries, affiliates, agents, servants, employees, shareholders, officers, directors, partners, heirs, successors, and assigns. This broad definition ensures that the release covers a wide range of related parties who might have a claim against Chatime.

In practical terms, this means that when a franchisee signs the General Release, they are not only releasing claims on their own behalf but also on behalf of all the associated individuals and entities listed in the definition. This is a comprehensive release designed to protect Chatime from potential future claims from various related parties. The General Release requires the undersigned to acknowledge that they are receiving one dollar ($1.00) and other good and valuable consideration in exchange for the release.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.
All Chatime 2025 FAQs Ask FDD Ninja